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AMC Entertainment On Monday, the company raised about $250 million in new equity amid a resurgence of meme stock craze sparked by the return of “Roaring Kitten.”
The movie theater operator sold 72.5 million shares in a market share offering on Monday. AMC sold the shares at an average price of $3.45 per share (excluding commissions and fees).
AMC shares more than doubled in premarket trading Tuesday following the stock sale.
The average selling price was in the lower range of Monday’s frantic trading, with AMC shares more than doubling to an intraday peak of $5.88. The stock closed up more than 78% on Monday at $5.19. AMC previously announced the release on March 28, but it wasn’t completed until Monday.
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Roaring Kitty, who inspired the 2021 stock meme craze, resurfaced online with a cryptic image showing a man leaning forward in a chair, but it was enough to spark Amateur traders’ buying frenzy. GameStop shares soared 74% on Monday and were halted due to volatility.
The video game company’s stock price soared more than 130% in pre-market trading on Tuesday.
Citigroup, Barclays, B. Riley Securities and Goldman Sachs are the sales agents for the AMC stock offering.
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